Date: 3 months ago   Category: Industry

AvtoVAZ will grant Renault a loan at the rate to 10 billion rubles — Rambler News Service


AvtoVAZ will provide Renault Finance S.A ("daughter" of the Renault group) I will jam up to 10 billion rubles for a period of up to March, 2023, follows from materials of the Russian company. The parties have signed the relevant contract on August 15, 2018. At the same time the company notes that the board of directors of AvtoVAZ didn't consider the transaction. "Within 15 days from the date of the notice of board members and board members on the transaction the requirement about holding a meeting of the Board of Directors hasn't arrived" — it is said in materials of automobile works. The official representative of AvtoVAZ has told RNS that the company doesn't comment on the transaction. Now the Renault company is the controlling shareholder of Alliance Rostec Auto B.V. from shares of 61,09%, at this Alliance Rostec Auto B.V. owns in AvtoVAZ of shares in 83,53%. Thus, Renault indirectly through Alliance controls 51% of AvtoVAZ. Renault owns 100% of the Finance S.A Renault company.

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